PBBM OKs temporary tariff rates reduction on e-vehicles, parts

President Ferdinand “Bongbong” Marcos Jr. has approved the temporary modification of import duty rates on electronic vehicles, parts, and components under the Customs Modernization Act (Republic Act No. 10863), Malacañang announced on Thursday.

Presidential Communications Office said the President signed the EO no. 12 on 13 January 2023, which the government believes will boost the country’s electronic vehicle market.

It added that the EO supports the transition to emerging technologies and encourages consumers to consider electric vehicles as a cleaner and greener transportation option.

The order noted that the transportation sector is one of the country’s largest sources of air pollution and energy-related greenhouse gas emissions at 34 percent, with road transport accounting for 80 percent of those emissions.

In November last year, the NEDA Board endorsed the temporary reduction of the Most-Favored Nation tariff rates on certain e-vehicles and their parts and components for a period of five years.

The NEDA stated the EO will temporarily reduce the MFN tariff rates to zero percent for five years on Completely Built Up units of certain electric vehicles, except for hybrid-type EVs.

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